I’ve Set Up My Entity…Now What Do I Do?
After taking the correct and responsible step of setting up an entity to protect yourself, whether it is a corporation or LLC. The next plausible question is always:
“Now what do I do?”
That’s a great question! It is so pertinent and asked so often that I have written a new book to answer it. Run Your Own Corporationdiscusses the requirements and obligations you must deal with as you start and operate your entity.
A key point of the book addresses your responsibility to make your payroll tax payments. The IRS is very strict about this, which is why we cover the topic in a way that you clearly understand what is expected of you.
Failure to follow the rules can lead to civil and even criminal penalties. So we want you to be prepared.
IRS audits are also addressed in the book. The IRS has really increased their business audits. Run Your Own Corporation shares what the IRS is looking for and how to deal with them when being audited. (Hint: Be sure your CPA is at your side.)
Don’t worry, when you read my book you will realize that it isn’t that complicated. Although the payroll tax rules are strictly enforced and IRS audits appear daunting, the book clearly explains what you need to do. Other businesses and investors have dealt with the same thing many times and turned out fine, better than fine sometimes, and so can you.
Similarly, the book stresses the importance of having a bookkeeper handle some of these filing requirements. Consider your situation. You are good at what you do. To grow your business you need to go out and do a lot more of that. Do you have the time to also do bookkeeping? Think of the opportunity cost involved: Doing the books yourself; which may drive some hard charging entrepreneurs nuts, versus having another capable person do them so you can spend more doing what you are best at – running your business.
Run Your Own Corporation deals with these and the many other issues involved with properly running your entity from start to finish. For more information on the book please check out the short video below:
Find Run Your Own Corporation in a bookstore near you, or online at www.Amazon.com or www.barnesandnoble.com.